Angel Oak Mortgage (NYSE:AOMR) Downgraded to Neutral at UBS Group

UBS Group downgraded shares of Angel Oak Mortgage (NYSE:AOMRGet Rating) from a buy rating to a neutral rating in a research report released on Wednesday, The Fly reports.

A number of other analysts have also issued reports on the company. Wells Fargo & Company dropped their target price on Angel Oak Mortgage from $23.00 to $21.00 and set an overweight rating on the stock in a research report on Wednesday, March 16th. Zacks Investment Research raised Angel Oak Mortgage from a sell rating to a strong-buy rating and set a $16.00 target price on the stock in a research report on Wednesday, May 18th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $19.00.

NYSE:AOMR opened at $15.30 on Wednesday. The business’s 50-day moving average is $15.63 and its two-hundred day moving average is $16.28. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.43 and a quick ratio of 2.43. Angel Oak Mortgage has a 12 month low of $12.60 and a 12 month high of $19.00. The firm has a market capitalization of $381.43 million and a PE ratio of -12.05.

Angel Oak Mortgage (NYSE:AOMRGet Rating) last released its quarterly earnings data on Tuesday, March 15th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.38 by $0.51. Angel Oak Mortgage had a positive return on equity of 15.43% and a negative net margin of 41.11%. The company had revenue of $22.79 million for the quarter, compared to analyst estimates of $22.52 million. Equities analysts anticipate that Angel Oak Mortgage will post 2.7 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Monday, May 23rd were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 20th. This represents a $1.80 dividend on an annualized basis and a yield of 11.76%. Angel Oak Mortgage’s payout ratio is currently -141.73%.

In related news, major shareholder Davidson Kempner Capital Manag bought 30,410 shares of the firm’s stock in a transaction on Friday, May 20th. The stock was bought at an average cost of $12.99 per share, for a total transaction of $395,025.90. Following the completion of the purchase, the insider now directly owns 7,344,770 shares in the company, valued at approximately $95,408,562.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Morgan bought 4,000 shares of the firm’s stock in a transaction on Friday, April 1st. The stock was bought at an average price of $16.40 per share, with a total value of $65,600.00. Following the completion of the purchase, the director now owns 8,211 shares of the company’s stock, valued at $134,660.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 50,270 shares of company stock valued at $687,042.

Several large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in shares of Angel Oak Mortgage by 79.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 855,022 shares of the company’s stock worth $14,031,000 after acquiring an additional 377,299 shares during the period. BlackRock Inc. lifted its stake in shares of Angel Oak Mortgage by 2.6% in the 1st quarter. BlackRock Inc. now owns 627,356 shares of the company’s stock worth $10,294,000 after acquiring an additional 15,938 shares during the period. Masters Capital Management LLC lifted its stake in shares of Angel Oak Mortgage by 20.0% in the 4th quarter. Masters Capital Management LLC now owns 600,000 shares of the company’s stock worth $9,828,000 after acquiring an additional 100,000 shares during the period. Centiva Capital LP lifted its stake in shares of Angel Oak Mortgage by 44.8% in the 4th quarter. Centiva Capital LP now owns 443,232 shares of the company’s stock worth $7,260,000 after acquiring an additional 137,087 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Angel Oak Mortgage by 9.9% in the 1st quarter. Vanguard Group Inc. now owns 341,945 shares of the company’s stock worth $5,611,000 after acquiring an additional 30,894 shares during the period. 73.17% of the stock is owned by institutional investors.

About Angel Oak Mortgage (Get Rating)

Angel Oak Mortgage, Inc, a real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders.

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